June 2, 2022
Preliminary EU-harmonised figures indicated that French inflation jumped more than predicted in May, setting a new high, putting pressure on President Emmanuel Macron ahead of legislative elections later this month.
Consumer prices rose 0.7 percent in May, for a 12-month inflation rate of 5.8%, up from 5.4 percent in April and the highest rate since France began using European Union methodology to generate the numbers in the early 1990s, according to the INSEE statistics agency.
Apart from Malta, France has managed to maintain inflation lower than the rest of the EU thanks to a 25 billion euro package of measures that includes, among other things, hefty price limits on gas and electricity.
Annual inflation in France, as measured by the national consumer price index, climbed to 5.2 percent in May from 4.8 percent in April, reaching its highest level since September 1985, according to INSEE. In May, economists surveyed by Reuters projected an average growth rate of 5.0 percent.
Source: Reuters
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